Interested in small game business ideas? If YES, here is how to open a game company with no money and no experience. How much does it cost to start up?
Do you by chance dream of starting your own video game company? Are you searching for reliable tips on how to start a game company? Perhaps, you do need what it entails to start a successful game company and that is why you are reading this post right now.
Informatively, game companies create interactive and digital entertainment products designed to be played on a wider range of platforms, platforms like personal computers, smartphones, Gameboard, video game platforms like the popular Sony’s PlayStation 1, 2, 3, 4, Xbox and host of others.
The game industry in its own league has been in a steady state of evolution ever since its creation, giving room for innovative and new players in the highly patronize gaming space.
So, if you have interest in the game industry and you want to start a game company, let’s move down to the secure steps you can take to have a successful game company.
Having decided to start a game company, the first thing required of you is to come up with a plan. The business plan needs to explain how you mean to manage your game company.
Be clear and be realistic as possible while writing this. Remember, it is advantageous you underestimate your desire profits and be pleasantly amazed than overestimating your abilities and end up being disappointed.
During the course of drawing the game company business plan, ensure you have a clear and solid description of the game company to give people an insight of what your game company is about, what makes you stands tall and differentiates amidst your competitors, and the various markets you intended to gain a firm foothold in.
All these are very crucial and you need to take cognizance of them if you are to start a game company.
Carryout a Market Research
Another guide for you before you start a game company is, you need to know who are your present and likely future competitors and target your market. You need to know how much you can sell your game designs to the retail and at wholesale levels.
You can only know all these through market survey. Ask around and get feedback. Find prototype of games that are similar to what your company will be dealing with, and learn where and how much those games sell. This will surely give you a high up when you are ready to develop your own.
Register your Game Company
Before you register your game company with the state, it is very paramount you decide on the business structure you will be building. Is it LLC, corporation or partnership?
Game companies can thrive well as a partnership business, likewise as a sole proprietorship. But if you are going to take a loan for the game company in the early stages, consider registering your game company as an LLC to prevent personal liability for debts.
However, it is left to you to decide on the game company business structure. Registration of the game company under the government is a must, do handle it diligently.
Gather your Team
If you are starting a game company, you need to put together several teams to make the company a successful one. Running game company all alone is nearly not possible.
Find at least one or two graphic artists, programmers and at minimum, an expert on marketing and finance to join you in the game design company. If you have this squad of brains and talents at your disposal, the sky is the beginning for your game company for it will definitely grow big.
Source for Enough Finance
Look for ways to source for fund while your business team develop and design their first product so that the game company wouldn’t burn much capital at the early or developmental stage.
Unlike other types of businesses, game companies do employ a business model that demands a fairly large beforehand investment, capital and labor prior the products can be marketed out to the general public.
Develop your First Product
It is high time you create your first product for your game company. Carry out extensive and a wide research while conceptualizing your game company first product.
Dispatch your team and find out what are those things that please gamers in new releases, and the game industries inside publications to have an idea of the kinds of games they are developing for future releases. Ensure your first product (game) is fully complete and tested before you market it out.
Market your First Product
Adopt the creative marketing strategies to create awareness about your game. Allow game downloads on your company website, and spread the news of your new game on several game forums and online community discussion forum.
Also, create a smooth relationship with local game stores across the state so that they can stock your products directly.
However, if you carefully follow and apply these 7 steps discussed above, your game company is bonded to experience a free flow of financial income in its early and later stages.